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What to do with boat with no title and bank doesnt want??!!

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Old 03-04-2011, 11:51 AM
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This aint the kid that got dropped outside the bar in Chicago is it?
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Old 03-04-2011, 12:17 PM
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This aint the kid that got dropped outside the bar in Chicago is it?
LMAO no Sean is doing ok....still getting into stupid fights but now he actually gets paid to do it being a bouncer at the bars! LOL
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Old 03-04-2011, 04:40 PM
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The plot thickens and the story now changes!....i got a little more info. the guy had the boat under one of his companies...that he declared banckruptcy on and .
This makes more sence, and to be clear,depending on the type of bankruptcy Chapter 7, 11 or 13) the trustee may still have a "Hold" on the assets. The bank's generally wait untill the bankruptcy is discharged before they attempt to secure the asset. It costs way to much to get a relief of stay filed, served and executed on.

If the debtor refuses to cooperate upon the discharge, then the lender can file to reopen the bankruptcy, and the costs generally fall back against the debtor.

Believe it or not, what is happening is general operating procedure... That is why people can be percieved as "working the system" when they file bankruptcy when they may not actually be bad at all, just cought up in bad times. But then again... Many do work the system!
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Old 03-04-2011, 07:55 PM
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The story i got so far is that he missed a few payments and the bank sent a few notices...so he realized this was not gonna work out so he went directly to the bank with boat in tow, spoke to the lending officer that did the loan for him and wanted to give it back after telling them he can not afford it and would rather they repo it now then have the hassle later. He was willing to even drive to any storage facility they wanted. They came back and told him they dont want it and wouldnt tell him if anything else would come out of it. So he took it back home and its been sittin gin the garage since....no peep since from anyone about it. As soon as i get the lending info on this i will be calling the bank to see what if anything i can do with it and how flexible they may be to get something worked out.

The plot thickens and the story now changes!....i got a little more info. the guy had the boat under one of his companies...that he declared banckruptcy on and told the bank it was left outside and was all dirty/scummy...etc.....so the bank is under the impression it has no value and thats why they didnt want it. But he had it under cover in his garage the whole time. But now i cant get a hold of him i guess he realy dont want to get rid of it...at this point i dont feel like following it up anymore...more of a headace then its worth to me att his point.
Sounds like the guy is spewing any bullsh!t story he can think of. In all actuallity he has probably been hiding it in garage and hoping to sell it before the bank actually gets possession of it.
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Old 03-04-2011, 08:30 PM
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Sounds like the guy is spewing any bullsh!t story he can think of. In all actuallity he has probably been hiding it in garage and hoping to sell it before the bank actually gets possession of it.
They just haven't found it yet. I was working on some ones 27 fountain a couple of years ago and the tow truck showed up next door looking for it. The guy had only made 1 payment and had been hiding it for 2 years from them. They were 1 house off and couldn't see past the bushes. They got it back a couple of days later when he stopped at a bar after picking up from me.
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Old 03-07-2011, 12:39 PM
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yeah he wont return any emails....i think he was talkin smack trying to look cool infront of my friend. He still continues to use the boat today from what my buddy told me this past weekend. If it were me and no one was after the boat i would use it till it turned to dust!!
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Old 03-07-2011, 01:04 PM
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my advice...walk away (sounds like what you are doing already).

why get caught up in a legal fiasco over a suspect boat. not like you were going to even get a deal on it.
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Old 03-07-2011, 01:08 PM
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yeah he wont return any emails....i think he was talkin smack trying to look cool infront of my friend. He still continues to use the boat today from what my buddy told me this past weekend. If it were me and no one was after the boat i would use it till it turned to dust!!

Thing is he probably would sell it, just hoping to find an idiot who does not care about the paperwork.
You asked to many questions so now wont answer your calls.
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Old 03-08-2011, 02:25 PM
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but no one has done that. no one has worked on the boat, no one has stored the boat. so in order to do what you say, they would have to take the boat under false pretences, work on said boat under false pretences, then file paperwork under false pretences...and people really have the nerve to look at others and call them thieves? Im gonna send a letter to IB to change the name of the site to hypocrites only..seems people on here dont care about the right thing until it benefits them...
This post says it like it is. OFFSHOREDRILLIN I don't have a clue as to who you are...but I respect you very much.
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Old 03-08-2011, 02:28 PM
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Your entire scenario would be called Conspiracy to Commit Fraud, Theft by Deception, or Collusion. It is a preconceived plan put in place for the sole purpose of defrauding the bank.

If someone is actually running a legitimate storage business and is actually storing, then that may be a legal way to recover the storage fees.
Well said. You and OFFSHOREDRILLIN are both on the mark.
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